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DISH Network Corporation (NASDAQ:DISH ) Q3 2023 Earnings Conference Call November 6, 2023 12:00 PM ET Corporate Participants Tim Messner - Executive Vice President, General Counsel and Corporate Secretary Charles Ergen - Co-founder and Chairman John Swieringa - President and Chief Operating Officer, DISH Wireless Paul Orban - Executive Vice President and Chief Financial Officer Mike Kelly - Executive Vice President and Group President, Retail Wireless Gary Schanman - Executive Vice President and Group President, Video Services Conference Call Participants Michael Rollins - Citi Walter Piecyk - LightShed Kannan Venkateshwar - Barclays John Hodulik - UBS Jonathan Chaplin - New Street David Barden - Bank of America Ben Swinburne - Morgan Stanley Bryan Kraft - Deutsche Bank Todd Shields - Bloomberg News John Celentano - Inside Towers Jimmy Schaeffler - The Carmel Group Operator Good day and welcome to The DISH Network Corporation Q3 2023 Earnings Conference Call. Today's conference is bein

Dish swung to a $139 million loss last quarter from a $412 million profit the year before, the company said today, as pay-TV subscribers fell.

Dish Network (DISH) came out with a quarterly loss of $0.26 per share versus the Zacks Consensus Estimate of $0.25. This compares to earnings of $0.65 per share a year ago.

Dish posted a surprise third-quarter loss. The group is also selling its Puerto Rico and U.S. Virgin Islands assets.

Dish Network (NASDAQ:DISH) (Dish Network (NASDAQ:DISH)) has reported a drop in third-quarter revenue and has swung to a loss for its fiscal third quarter as its pay-TV subscribers declined. The company's shares fell 8.6% ahead of the opening bell on Monday.

Shares of Dish Network Corp. DISH, +5.17% dropped 4.9% in premarket trading Monday, after the satellite TV service swung to surprise a third-quarter loss, as pay-TV and wireless subscribers decline. The company reported a net loss of $139 million, or 26 cents a share, after net income of $412 million, or 65 cents a share, in the year-ago period.

We expect Dish revenues to come in at about $3.73 billion for the quarter, a decline of about 10% versus last year and roughly in line with the consensus estimates.

Bearish sentiment has dominated the financial markets since mid-September. Most sectors of the stock market have produced negative returns over the last 30 days. Technology and communications sectors remain strong, while utilities and consumer staples sectors have declined significantly.

DISH Network's stock remains on a downtrend despite meeting compliance requirements for 5G implementation by the FCC. The merger with EchoStar, in addition to being positive for the balance sheet, positions DISH as an end-to-end player with its own 5G network, targeting rural and hard-to-reach areas. DISH's capital-light strategy and use of open technologies are proving beneficial in reducing costs and improving infrastructure management too.

Dish Network has been slapped with a historic $150,000 fine by the Federal Communications Commission for failing to properly deorbit one of its broadcast satellites, creating orbital debris. The FCC penalized the popular broadcast satellite provider for improperly disposing of its EchoStar-7 satellite in the agency's first-ever space-debris enforcement measure.